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Globalization - Research Paper Example

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Running Head: GLOBALIZATION OF INFORMATION TECHNOLOGY Globalization of Information Technology Name School Abstract The interactive strengths of globalization, the rapid and unrestricted flow of information and the latest innovations in communications technology has made time and space immaterial…
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Download file to see previous pages The new globalized economy has become dependently structured on modern and digitized culture (Passaris, 2006). This paper will assess the benefits and detriments of information technology in significant areas of industrial structure, workforce, financial markets, healthcare, education, journalism and media. Moreover, the Digital Divide caused by IT access inequalities will be explained. Globalization: Its Benefits and Demerits Globalization is the process of producing a net of linkages through a stream of information, technology, populace, and goods and services. In economics, globalization creates worldwide free market and capital flows, employs international transactions, encourages foreign direct investments, and aids in fast and extensive dispersal of technology (Smith & Doyle, 2002). Pro-globalists affirm that globalization speeds up economic development, thus providing worldwide quality-living; promotes higher profits and presents larger options for low-cost goods and services; raises employment and salaries and assists in the upgrading of working status and defends workers’ rights; and aids in environmental protection and conservation through national funding of ecological development. Moreover, globalization gives assistance and support to second and third world nations through increased economic expansion; alleviates poverty and hunger in the developing nations; safeguards civil rights; and promotes democratic governance. A century ago, today’s experience of modern quality life brought about by the global digitized economy was beyond imagination. The new globalized world created improved health, longer life span, computer literacy, comfort, and higher living standards (Batterson & Weidenbaum, 2001). From an anti-globalist’s standpoint, globalization brings financial disasters and poverty for the sake of greed and power; amplifies global income gap between the rich and poor nations; affects the cross-border displacement of US jobs to below minimum salary factories unprotected by workers’ rights; and abuses ecology and environment for financial greed, thus worsening environmental conditions. Additionally, a globalized economy subjects developing nations to unjust trade and extra financial burdens; sustains world commerce in mass oppression and slavery; pressures the independence of nations by weakening their national policies on world trade; and risks the health, economy, and social status of the developing nations (Batterson & Weidenbaum, 2001). The Globalization of Information Technology Information Technology (IT) is a motivating channel in global integration through efficient information flow and distribution. The early expansions in computer and telecommunications technology in the nineties have caused extensive upgrading in information access and economic prospects that improved competence in every economic zone. IT system of communication assists the development of manufactured goods, designs, and reserves among nations and their population despite distance (Information Technology and Globalization, 2006). Today, IT products are common and used in virtually all transactions of business and interactions of mankind. The fast development of IT and its applications have redefined global experience. Three decades ago, prior to the introduction of personal desktop computers, people used the typewriter which allow simple paper documentations devoid of text manipulation and storage. Two decades ago, there was ...Download file to see next pagesRead More
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Although the term ‘globalization’ is commonly used in lieu of the term ‘economic globalization’, it has a wider meaning and application in the modern world which covers socio-political and cultural globalization. It is fundamental to have a clear and specific definition of globalization in order to improve sustainable explanations, precise evaluations and effective policies of the same.
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Moreover, there are assumptions that the economic globalization or integration of nationally based economics to form a single international economy via foreign direct investment, trade or capital flow or technology spread (Appadurai, 2000; Garrett, 2000).
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This paper explores concepts of globalizations and economic systems. Concept of globalization One of the fundamental concepts of globalization is its interconnectivity of different aspects across the globe, a feature that identifies shared characteristics that are transferred across developed international networks.
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Globalization is simply an international process which arises from interchanging of products, ideas, world views and many other aspects of culture. This process has an effect on the culture, on the environment, on the political system, on the prosperity and development of the economy and also on the well being in the societies around the whole world (Globalization101, 2012).
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Globalization leads to drastic changes in social conditions of millions of world’s residents, expressing itself both in constant shifts in global production and the disruption of ‘usual’ cultural conventions. That is why it is necessary to analyze the problem of globalization, so that the overcoming of its drawbacks may be possible.
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For instance, globalization is essential for organizations because it enhances cultural integration and appreciation. This arises when students or workers admitted embrace different cultural backgrounds and they can freely share and
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